COMMERCIAL ALLOTMENT OF DUNLOP RUBBER SHARES

Greymouth Evening Star, 21 September 1946, Page 2

COMMERCIAL ALLOTMENT OF DUNLOP RUBBER SHARES

(P.A.) WELLINGTON, Sept. 20. A total of £3,846,176 was offered by applicants for shares in Dunlop (New Zealand), Ltd., according to final figures released by the company to-day. The number of applicants was 13,402. n . The largest number of applications was lor preference shares, 7108 persons seeking 2,211,612 shares. Foi oi - dinary shares there were 6294 applications for a total of 1,634,564 shares. The company offered 300,000 ordinary shares and 50,000 preference shares of £1 each. The Dunlop Rubber Company is providing the balance oi capital, subscribing for 450,000 ordinary shares; The directors hope to be able to advise the basis of allotment about the middle of next week and letters of allotment will probably be posted within the next fortnight. COMPANY NEWS Westland Breweries. —A net profit of £6964, compared with £48.06 the previous year, is, shown in the annual report cf Westland Breweries for. the year ended-June 30. Provision foi taxes required £16,250, against £13,250 the previous year. Goodwill written off totalled £3OOO, and un-der-estimate for taxation of the pterions year £327. The recommended dividend is unchanged at 8 per cent., absorbing £4400. The balance to be carried forward is £6922, compared with £4358 brought in. Gross profit increased from £41,235 to £51,104. . p Snowy River Profit. Net profit of Snowy River Gold Dredging Ltd., a Sydney company operating on the West Coast, was £13,861 ior the year ended June 30, which is £10,48, less than last year. The decline was mainly due to a fall in grade from 2.06 gr. to 1.68 gr. a yard. Iwo dividends, each of 6d a share (unchanged), required £14.000. N.Z. Guarantee Corporation.—Tne directors of the New Zealand Guarantee Corporation, Ltd., have recommended to shareholders an annual dividend of Ud a shaie, pay<on October 24. —(P.A.) Austral (N.Z.).-Fdr the fortnight ended on September 14, 438 ounces were recovered in 226 hours by Austral (N.Z.) Mining Company.